Guarantor Financing in a Four-party Supply Chain with Leadership Influence
发布时间: 2017-07-03

东南大学经济管理学院专题讨论(Seminar登记表

报告题目

Guarantor Financing in a Four-party Supply Chain with Leadership Influence

报告人(单位)

蔡港树(美国(硅谷)圣塔克拉拉大学)

点评人(单位)

薛巍立(东南大学)

点评人(单位)

何勇(东南大学)

主办机构

经济管理学院

时间地点

时间:201776号下午1500

地点:四牌楼东南院305

报告内容摘要


报告内容:

Recent years have seen guarantor financing growing rapidly in developing countries where small firms do not have sufficient creditworthiness to secure bank loans by themselves. However, no paper has studied the efficacy of guarantor financing in a supply chain context. This paper investigates both manufacturer guarantor financing (MG) and 3PL (third-party logistics) guarantor financing (LG) in a four-party supply chain, featuring a manufacturer, a 3PL, a retailer, and a bank, in three different game settings: manufacturer Stackelberg leadership, 3PL Stackelberg leadership, and Nash game. Comparing MG to LG in each of the three game settings reveals that there exists a guarantor-follower advantage in which the whole supply chain can benefit from letting the Stackelberg follower be the guarantor. However, the follower’s preference of either MG or LG depends on the leader’s economies of scale in operational cost. While under Nash game, there is no difference between manufacturer and 3PL guarantor financing for the retailer and the supply chain, and both upstream firms prefer the other to be the guarantor. Furthermore, from the perspective of supply chain leadership, we find that the supply chain with longer hierarchy but with a leader can be more efficient with a gloomy outlook of the expected margin return of providing guarantor financing. Moreover, our analysis indicates that, if the upstream firms’ economies of scale are substantial, all firms still prefer guarantor financing even if the traditional bank financing is viable.


报告人简介:

蔡港树博士,美国(硅谷)圣塔克拉拉大学副教授,东北财经大学国际商学院荣誉海外院长,供应链管理研究中心主任,复旦大学供应链金融研究中心学术主任,上海市“千人计划”专家,国家自然科学基金海外及港澳学者合作研究基金延续资助项目(原“海外杰出青年”基金)获得者。主要研究方向是电子商务、多渠道供应链管理、供应链金融等领域。在国际顶级及权威期刊上发表论文30多篇。主持美国国家科学基金、中国国家自然科学基金等各类科研项目20余项。荣获国际电子商务会议最佳论文奖,堪萨斯州立大学商学院杰出教学和杰出研究奖,多项圣塔克拉拉大学的院长卓越教学、卓越研究、和卓越服务奖,利威商学院最高影响力教学奖,利威商学院最高影响力服务奖,及Decision Sciences杰出副主编奖。现为国际顶级期刊Production and Operations Management资深副主编、权威期刊Decision Sciences副主编。

参会人(签字)